Singapore-listed property developer Oxley Holdings has paid a £20m deposit to secure Royal Wharf, a 40-acre site in London’s Royal Docks.
The group is expected to pay the balance of the £200m purchase price to Irish developer Ballymore upon completion on 20 December.
Oxley plans to develop 3,400 homes as well as retail, leisure and educational facilities on the site. It is the firm’s first UK deal.
It said it was “not closed ?to investing in other sites in the UK that can yield good returns”.
Knight Frank and Alan Selby & Partners, now part of CBRE, advised Ballymore.
annabel.dixon@estatesgazette.com
